More time and more money, who would turn down that down? Entrepreneurs in particular can often find themselves wishing for more of both, as running a business can take up serious time and cash might be a bit more strapped when starting out.
But if you use accounting & invoicing software, you can make a big difference in your time for a very small amount of money. And you know what they say about time (it’s money). Let’s look at a few ways you can make the best use of your software.
1. Do your accounting regularly
First rule of thumb: schedule times to sit down and manage accounting for your business. No, it’s not the most exciting part of having a company, and we all know you’d rather be doing anything other than uploading receipts and recording expenses. But there’s nothing worse than waiting til those pile up…
Planning to do your bookkeeping regularly, maybe once a week, has many advantages:
- You remember most of the receipts and log them all
- You notice any unpaid bills in time
- You keep track of your income and expenses
- You keep your costs under control and avoid bottleneck payments
2. Save time with smart workflows in your invoicing software
One of the main ways that invoicing & accounting software helps you save time is built-in. For example, you can convert your quotes to invoices with just a click instead of rewriting the entire invoice.
Wondering about other practical workflows? They include:
- Creating invoices and changing designs, with a click of your mouse
- Send completed invoices directly from your invoice software
- Turn quotes into invoices and invoices into delivery notes fast
- Create and send late payment reminders for overdue invoices
- Generate credit notes on invoices
3. Make use of automated features in your invoicing software
In addition, smart features make filling in the details automatic. The main place you’ll see this is in your accounting! Expenses can be added quickly and easily, from your smartphone or computer.
The automation you’ll find also includes:
- Photos of receipts from your mobile are read via OCR and details filled in instantly
- The auto-suggest feature helps you choose the right category for your expense
- Invoicing? Date, invoice number, and customer details all autofill
- Instantly preview how your invoice looks with a different design or layout
- Automatic bank reconciliation means matching payments is effortless
4. Invoicing & accounting: go mobile
Have you ever felt like the time spent commuting is time wasted? Not even while on the train, but waiting for the metro, a bus, or taxi to come along? It’s possible to use this time more efficiently: by catching up on invoicing from the mobile app.
5. Work better with your accountant
Since HMRC moved to quarterly self-assessments, you might find that you’re working more closely with your accountant than ever. With Debitoor, it’s easy to give your accountant direct access to the information they need about your business accounting.
Your accountant will be able to set up separate, secure access to your account (with their own login details) and export the necessary information with a click. Meaning you spend less time on paperwork, phone calls, and emails.